The ratification of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) yesterday in New Zealand was welcomed by the export focused Australian wine sector.

Australia is the sixth member to ratify the agreement, which required more than half of the eleven signatories to ratify prior to the agreement entering into force.

Winemakers’ Federation of Australia, Australia’s peak national body representing winemakers, welcomed the ratification yesterday of the CPTPP by the Australian Government.

Chief Executive, Tony Battaglene, said ‘the CPTPP will benefit growers and winemakers. Importantly, this deal gives some significant concessions in growth markets including Canada and Mexico, but also over time, will deliver benefits throughout key Asian developing markets.’

‘The Australian wine sector, and those regional communities that rely on the industry, will benefit from increased demand. In addition, it will enable us to grow our exports into new and developing markets.’

“The first tariff cut under the CPTPP will take place on 30 December 2018, followed swiftly by the second tariff cut on 1 January 2019. Importantly, tariffs into the Canadian wine market, which already receives $200 million worth of wine exports, will be eliminated on entry into force. We will also see elimination of tariffs in Mexico, Malaysia and Vietnam over time.

“We are delighted by the efforts of the Trade Minister, Simon Birmingham and his predecessor Steve Ciobo and the Department of Foreign Affairs and Trade for getting this deal over the line. I would also like to thank the Labor party for supporting this landmark deal’ said Mr Battaglene.